LTC looks to be testing minor upper resistance at $26. If it can move above the next resistance levels of $27 & $30, we could easily see a push to $50.
The current pull back from the recent high of $39 is great news. It looks like LTC is consolidating and flushing out weak hands or those taking profits. The main fundamentals for LTC still remains, if not improved, since the days of its $3-$4 price range. With the integration of SegWit and talks of integrating the Lightening Network on LTC it shows a new VALUE and PURPOSE for this digital currency. What was once just a copy cat of BTC is now taking front stage as the testing bed for all future innovative technologies that may one day be seen on Bitcoin. Litecoin is now starting to look like the true silver to its gold counter part. Just like silver, Litcoin is a lower denomination digital currency with higher potential upside, volatility and risk for speculative traders/investors. Bitcoin is the slow evolving, trusted, safe heaven to park your money which poses very minimal risks in comparison to other alternatives. I think we are now witnessing a fundamental shift in this alt coin.
The current pull back from the recent high of $39 is great news. It looks like LTC is consolidating and flushing out weak hands or those taking profits. The main fundamentals for LTC still remains, if not improved, since the days of its $3-$4 price range. With the integration of SegWit and talks of integrating the Lightening Network on LTC it shows a new VALUE and PURPOSE for this digital currency. What was once just a copy cat of BTC is now taking front stage as the testing bed for all future innovative technologies that may one day be seen on Bitcoin. Litecoin is now starting to look like the true silver to its gold counter part. Just like silver, Litcoin is a lower denomination digital currency with higher potential upside, volatility and risk for speculative traders/investors. Bitcoin is the slow evolving, trusted, safe heaven to park your money which poses very minimal risks in comparison to other alternatives. I think we are now witnessing a fundamental shift in this alt coin.